Socialism And Gold

By Keith Weiner – Re-Blogged From Gold Eagle

Most people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting the value of the money held by everyone—in proportion to the amount printed divided by the total amount in circulation.

This is not even wrong. So let’s look at how it really works.

Of course, as we’ve said many times before, the dollar is not money. It is irredeemable credit. And so is the Treasury bond. The difference between the currency and the bond is maturity. The currency is credit of zero duration and the bond has a duration of e.g. 10 years.

The Fed is not printing, but merely exchanging one irredeemable credit for another.

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On Cambridge University, post-modernism, climate change, Oppenheimer’s Razor, and the Re-Enlightenment

By Neil Lock – Re-Blogged From WUWT

In the early 1970s, I studied mathematics at Trinity College, Cambridge. I enjoyed it at the time, but was left with a feeling that something wasn’t quite right. Although I scraped a First, and was offered a place on Part III of the Tripos, I decided to go out into the real world instead. Never did I make a better life decision.

Over the intervening decades, I have come more and more to question the value of universities. I would have expected the remit of a university to be (1) to seek, (2) to develop, and (3) to pass on, ideas and practices to improve the human condition, both today and in the future. There should be no dishonesties in their processes, no imposed orthodoxies, and no restrictions on the freedom to seek, or to tell, the truth. Yet, universities – not just at Cambridge, but world-wide – seem to have become bastions of political correctness. Anyone in the faculty, who doesn’t toe the party line and parrot the narrative of the moment, will find difficulties in funding or in getting papers published, or may even be in danger of dismissal. Peter Ridd in Australia and Susan Crockford in Canada are topical examples.

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A Majority of Americans Believe OTHER People Should Make Climate Sacrifices

By Eric Worrall – Re-Blogged From WUWT

Nobody seems to mind, if a “Green” clocks up a lot of air miles.

According to The Federalist, a majority of Americans believe climate action is a priority – as long as it doesn’t impact their lifestyle choices.

Americans Say They Care About Climate Change, But Don’t You Dare Ban Air Travel

Nowhere in the list of things that voters liked that should be done to cope with the ‘national emergency’ were measures that would affect their lifestyles or choices.

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The Market Will Set You Free

By Andy Puzder

It’s time for free-market capitalism to reclaim its legacy as a creator of prosperity — not just for citizens of the Western world, but for people everywhere. It’s not capitalism that has to justify itself; it’s everything else. Why? Because everything else has resulted only in poverty. Does that surprise you? Are you skeptical? Andy Puzder, author of “The Capitalist Comeback,” has the charts and data to prove it.

Please view the VIDEO

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Margaret Thatcher: The Woman Who Saved Great Britain

Niall Ferguson

You’ve heard her name. You might even have seen a film about her. Bhttps://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/ut do you know the whole story of Margaret Thatcher – where she came from, what she stood for, and the impact she had on Great Britain and the world? Renowned historian Niall Ferguson explains how the Iron Lady earned her status as one of the most important and influential women of the 20th century.

Please watch the VIDEO.

CONTINUE READING –>https://www.prageru.com/video/margaret-thatcher-the-woman-who-saved-great-britain/

Central Planning Vs. Economics

By Keith Weiner – Re-Blogged From Gold Eagle

We have spilled barrels of electronic ink, making the point that central banks are wreaking havoc. They hurt the poor, the middle class, and the rich. They hurt the wage earners, the business owners, the investors (aka the “rentiers”), and the pensioners. They have variously inflicted rising interest rates, too-high rates, falling rates, and too-low rates. They have imposed perverse incentives to destroy capital and consume wealth.

Those discussions focused on the specific injuries, their causes and effects. An analogy is studying the damage done to the body if it is cut by a sharp blade, bludgeoned by a blunt instrument, burned by a hot flame, or poisoned by a toxic chemical. One can study these things in excruciating detail, without considering one thing.

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Denialism VS Insanity

By Eric Worrall – Re-Blogged From WUWT

The Guardian has declared 2019 the year they defeated “climate denial”. But nobody in the green movement has any idea what comes next.

Climate change denial was defeated in 2019. But what comes next won’t be easier

Carlo Invernizzi-Accetti

Defeating the climate crisis is just the beginning of the struggle – and tough political choices will have to be made

Will 2019 be remembered as the year in which climate change denial was defeated? The global climate strike, Greta Thunberg’s meteoric rise to international prominence, as well as several high-profile international conferences and reports – all contributed in putting climate skeptics on the back foot.

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